Bharat Forge Chairman and MD Baba Kalyani stated that innovation in manufacturing is essential for India to realize exponential growth as it aims to become a developed nation by 2047. Addressing the NDTV World Summit, he emphasized the importance of cultivating local technologies to boost the manufacturing industry.
"I think India has to also create innovation in technology, we can't just copy what we get from outside. We now need to make our products which the western world will copy from us," Kalyani said.
He remarked that emphasizing innovation is vital for introducing new products.
He emphasized the importance of increasing the scale of production in the country.
"Manufacturing needs to grow 12 times and that's not easy, because in many areas of manufacturing, you need to generate strategies to create exponential growth. Linear growth won't work, and that's the challenge in front of us," Kalyani said.
He remarked that numerous benefits exist today due to the arrival of new technological advancement.
"There are many areas where we don't make anything right...So I think we better learn to create technology on our own power, and that should be the dream of every Indian. Do it yourself. Do it for the country. Think of the country as a whole. That's the name of the game," Kalyani stated.
Kalyani pointed out that AI is anticipated to improve productivity, efficiency, and product quality in manufacturing facilities.
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